Publications
Annual Report
2008-2009
Highlights
It’s Our Fault Research Project Findings
Findings from the It’s Our Fault research project indicate that the chance of a large earthquake occurring on the Wellington Fault (greater than magnitude 7.5) is significantly lower than previously thought. EQC is a major sponsor of the project, along with the Wellington City Council and ACC. It is led by GNS Science and involves researchers from NIWA and Victoria University.
Catastrophe Response Programme Review
In March a panel of experts in relevant fields was convened to review the Catastrophe Response Programme. The panel confirmed that the programme will achieve its objectives at least for events up to a moderate size (at least 10 times larger than anything EQC has been required to face to date). The panel’s recommendations are being worked through.
Claims Management System
Customisation of the new claims management system, to meet EQC’s special requirements, was made during the year by IBM and Eagle Technology. Their work won an international award for innovative software use.
Virtual Field Trip
EQC’s schools activities were expanded to include a series of three virtual field trips for secondary schools over three years. The programme gives students an understanding of the work of the geosciences community and an awareness of career opportunities within Earth Science.
Encouraging more people into the discipline will help build understanding of the forces that have created New Zealand and thereby reduce its vulnerability to the natural disasters that those forces can produce.
GeoNet Review
The second strategic review of the GeoNet project confirmed that GeoNet has delivered on the original proposal of March 2000, and in some cases exceeded requirements. Its cautious, staged roll-out of equipment has been a wise approach to ensuring the long-term stability of the networks and data collected.
Natural Disaster Fund
In the volatile investment markets of the year, EQC’s mix of Government stock, Treasury bills/bank bills and unhedged global equities has served to mitigate the risk inherent in any one market and the Commission has ended the year in surplus.